Copper holds within the bullish channel – Analysis – 26-9-2017

Copper price kept its consolidation within the bullish channel affected by the strength of 50% Fibonacci correction level at 2.8600, while the continuous stability of this level might force the price to end the correctional bearish trading to regain its bullish bias by rallying towards 3.0800 followed by pushing on the previously recorded top at 3.1800.

The consolidation of the moving average 55 around the bullish channel's support confirms blocking the price within the bullish range, also, stochastic rally above 50 level to start providing the positive momentum and support the attempt to renew the bullish attempts.

Expected trading range for today is between 2.8600 and 3.0800

Expected trend for today: Bullish